20.03.202607:08:18UTC+00Brent Slips as Supply Concerns Ease

Brent crude futures fell toward $108 per barrel on Friday, retreating from levels above $113 in the previous session as easing supply concerns helped steady markets. Leaders from the UK, France, Germany, Italy, the Netherlands, Japan, and Canada indicated their readiness to support efforts to secure safe passage through the Strait of Hormuz. US President Donald Trump stated that Washington is not considering the deployment of ground troops to the region, while Treasury Secretary Scott Bessent suggested that Iran’s regime could face internal collapse and noted that the US is exploring the possibility of lifting sanctions on Iranian oil. Israeli Prime Minister Benjamin Netanyahu also said that Israel would refrain from further strikes on Iranian energy infrastructure. Despite the latest pullback, WTI futures remain roughly 40% higher since the onset of the conflict, as disruptions have effectively closed the Strait of Hormuz and forced major regional producers to sharply curtail output.